Steward Partners Investment Advisory LLC Grows Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Steward Partners Investment Advisory LLC boosted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 99.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 786 shares of the company’s stock after buying an additional 392 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Nexstar Media Group were worth $124,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its position in shares of Nexstar Media Group by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock worth $1,073,000 after buying an additional 68 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after acquiring an additional 73 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Nexstar Media Group by 1.2% in the third quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock worth $1,684,000 after acquiring an additional 117 shares in the last quarter. Davis Capital Management boosted its holdings in Nexstar Media Group by 2.0% in the fourth quarter. Davis Capital Management now owns 6,270 shares of the company’s stock worth $990,000 after acquiring an additional 122 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Nexstar Media Group by 5.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company’s stock worth $398,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 35,205 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $162.13, for a total transaction of $5,707,786.65. Following the completion of the sale, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at approximately $109,388,138.22. This trade represents a 4.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lee Ann Gliha sold 330 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $158.23, for a total value of $52,215.90. Following the sale, the chief financial officer now directly owns 8,610 shares of the company’s stock, valued at $1,362,360.30. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 161,455 shares of company stock valued at $26,158,403 in the last three months. 6.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barrington Research restated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Guggenheim boosted their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 28th. StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. Finally, Benchmark boosted their price objective on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $208.43.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $169.88 on Monday. Nexstar Media Group, Inc. has a 52 week low of $146.04 and a 52 week high of $191.86. The business’s fifty day simple moving average is $157.81 and its 200-day simple moving average is $163.75. The firm has a market cap of $5.18 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Equities analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.86 per share. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio is currently 34.56%.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.